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DNB expects YOY drop in Q1 positive effect from basis swaps

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DNB expects YOY drop in Q1 positive effect from basis swaps

said April 7 that thegroup will record a first-quarter positive effect of 1.00 billion Norwegiankroner in respect of basis swaps connected to funding, down from a positiveeffect of 1.81 billion kroner in the year-ago period.

DNBsaid it will no longer report the basis swap effect ahead of its quarterlyreporting with effect from the second quarter, as it has become only one ofmany mark-to-market adjustments in the group's quarterly reporting. The group saidit will be better to report and explain the effects when it releases itsquarterly report.

As of April 6, US$1 wasequivalent to 8.33 Norwegian kroner.